2022 goes from bad to worse for the crypto markets — despite some bullish news from the likes of Twitter, OpenSea, Google, Microsoft and Walmart.
CoinMarketRecap, hosted by Connor Sephton, aims to break down the week's crypto news in a fun and accessible way.
Research continually shows that consumers find cryptocurrencies difficult to understand — and we're determined to change that.
News Roundup: Crypto.com Hack, Regulation, Cryptoland
We begin by recapping a terrible week for the crypto markets — with Bitcoin tumbling below $40,000 and Ether losing support for $3,000. Plus… Twitter unveiling support for NFT avatars, growing speculation that Walmart could accept digital assets, and how Microsoft plans to move into the metaverse.
CoinMarketCap's Molly Jane Zuckerman also joins us to discuss the headlines that caught her eye this week, with Crypto.com confirming that it suffered a hot wallet hack on Monday. Although the exchange has stressed that customer funds are safe, 483 users ended up having unauthorized withdrawals from their accounts. We discuss what investors should do to keep their assets safe — and whether they should keep their funds on these platforms in the first place.
Our attention then turns to a busy week when it comes to regulation. Spain has announced plans to tighten the rules surrounding crypto ads. Now, firms that want to reach more than 100,000 people will need to get approval first. The U.K. is embarking on similar measures — and wants to ensure that consumers aren't misled when it comes to digital assets. To top it all off, Bitcoin ATMs are abruptly shutting down in Singapore after regulators there warned that crypto trading is "not suitable for the general public." Are they right… and will the industry welcome clearer rules surrounding advertising?
Last but by no means least, we discuss the latest setback suffered by Cryptoland, which aims to build a lush paradise for hodlers on an island in Fiji. Not only has the project been subject to mockery after a promotional video went viral, but it has faced a backlash over its tweets… and a deal to buy a 600-acre plot of land has fallen through. Connor and Molly Jane chew over what's happened in greater detail.